Spain's Abertis, Brookfield to launch bid for Brazil's Arteris

Reuters Staff

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MADRID, April 18 (Reuters) - Spain’s Abertis said on Monday that, together with a unit of Canada’s Brookfield Asset Management, it will launch a bid for the shares of Brazil’s Arteris it doesn’t already own for 10.15 reais ($2.87) per share.

The Spanish motorway operator and Brookfield Brazil Motorways Holding currently own 69.26 percent of Arteris through Participes, in which they hold 51 percent and 49 percent respectively.

The offer, to be finalised May 17 and aimed at delisting Arteris from the Brazilian market, discounts the payment of a dividend, worth around 1.1 billion reais, Abertis said in a statement to the stock market regulator. (Reporting by Tomas Cobos; Writing by Paul Day)